Commvault price target raised to $72 from $62 at Lake Street

Lake Street analyst Eric Martinuzzi raised the firm’s price target on Commvault to $72 from $62 and keeps a Hold rating on the shares after the company “posted a good Q1” and reiterated full year guidance. While procurement scrutiny is elevated, the fact that subscription renewal rates remain comfortably in the 105%-110% range tells the firm that “customers are staying with Commvault, rather than being lost to a competitor,” the analyst added.